Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- U.S. stock futures suggested Wall Street would open lower Wednesday as investors fretted about the slow pace of negotiations over the so-called U.S.fiscal cliff.

European stocks were falling whiles Asian shares ended Wednesday's trading session in the red. Japan's Nikkei 225 index fell 1.2% to close at 9,308.35.


The economic calendar in the U.S. Wednesday includes new-home sales for October at 10 a.m. EST, and the release of the Federal Reserve's beige book survey on economic conditions for October at 2 p.m.


U.S. stocks on Tuesday finished with losses amid lingering concerns about the progress of budget talks on Capitol Hill.

The Dow Jones Industrial Average lost more than 89 points, or 0.69%, to close at 12,878.


Green Mountain Coffee Roasters ( GMCR) blew past Wall Street's expectations in its fiscal fourth quarter.

For its fiscal first quarter ending in December, Green Mountain forecast non-GAAP earnings of 62 cents to 67 cents a share and total sales growth of 14% to 18%. The current consensus view is for a profit of 59 cents a share.


Costco Wholesale ( COST), the warehouse retailer, plans to pay a special dividend of $7 a share, or about $3 billion. It also said Wednesday that first-quarter sales jumped 10%.


Earnings are expected Wednesday from American Eagle Outfitters ( AEO) , Coldwater Creek ( CWTR), Express ( EXPR), Fresh Market ( TFM), Guess? ( GES), Jos. A. Bank Clothiers ( JOSB), La-Z-Boy ( LZB), Movado Group ( MOV), New York & Co. ( NWY), Pall ( PLL) and TiVo ( TIVO).


Virtu Financial has emerged as the early front-runner to buy Knight Capital Group ( KCG)in a deal expected to value the brokerage firm at more than $1 billion, The Wall Street Journal reported, citing people briefed about the continuing sale talks.


In tech news, Apple ( AAPL) reportedly fired William Richardson, the tech giant's senior director of iOS services, over the failure of its new Maps app, while Groupon ( GRPN) co-founder Andrew Mason could be on his way out as CEO, according to a report.


-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

If you liked this article you might like

Preet Bharara Was Wall Street's Top Cop But Now He Is Just a Big-Time Podcaster

Shark Tank Star Kevin O'Leary Is Trying to Solve America's Retirement Crisis

The 12 Most Ridiculous Kitchen Appliances You Can Buy From Amazon